EIB Funds Research and Development of Green Trucks and Buses
8 January 2010: The European Investment Bank (EIB) and MAN Group Munich have entered into a EUR 300m loan contract for the development and launch of reduced-emission and fuel-efficient powertrains for trucks and buses.
The loan forms part of a programme to provide financial support for research, development and innovation projects aimed at reducing emissions and improving energy efficiency in the European transport sector. The project will finance highly efficient Euro 5 and Euro 6 engines and the launch of heat and energy recovery systems. Other projects will involve further development work on buses and trucks with hybrid powertrains, reducing their weight, improving energy management and optimizing vehicle dynamics and control, as well as developing new types of simulation technologies. MAN's total investment on these items is estimated at over EUR 600m. [EIB Press Release]